Mon, 04 Mar 2013 | DIVISION SALE
Harriet Green, the new chief executive of Thomas Cook, is mooting a clean up of the business.
She is reviewing a possible sale of Thomas Cook Essentials, which offers deals on holiday extras such as airport parking, car hire insurance and airport hotel stays. Thomas Cook Sport, the provider of sports related travel and accommodation packages, could also face the chop; as well as Elegant Resorts, which offers luxury holidays to global destinations.
Green, who joined the company in July, has also pinpointed ski holiday business Neilson for a possible sale, which was reported two weeks ago. No decision has been made about the future of these businesses as yet. It is thought some may be kept.
It has been predicted by analysts at Morgan Stanley that Thomas Cook could generate between £100 million and £150 million from a sale. The move could impact sales for the firm, however, which has debts of £1.6 billion to consider.
Green is scheduled to discuss her plans to boost the holiday firm to its investors on 13 March.
Thomas Cook has set up a team to focus on directing its online development and to advise it on the latest digital trends. The 12-strong team, called the Digital Advisory Board, is to be chaired by Harriet Green and John Straw, and will include outsider specialists from the digital arena.
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